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~_,~a5257 7. The holder of any s~rtgage authorized by the Director of the Community Development .Agency, including any holder who obtains title to the Premises or any part thereof as a result of foreclosure proceedings or action in lieu thereof (hut not including: (a) any other party who thereafter obtains title to the Premises or such part from or through such holder; or (b) any other purchaser at foreclosure sale other than the holder of the mortgage itself,) shall be obligated by the provisions ~f this deed to construct or complete the construction of the improvements, or to guarantee such construction ar completion. Nathing in these covenants or this deed shall be deemed or construed to permit or authorize any such holder to devote the property or any part thereof to any uses, or construct any improvements thereon other than those uses and improvements provided or permitted in the Urban Renewal Plan or Community Development Plan of the City of Grand Island. $, Grantees shall not protest the creation of any improve;nent districts, including but not limited to, paving, sanitary sewer, water main, storm water dzainage or sidewalks which may be created in or adjacent Co the Premises for which the Premises may be subject to the levy of special assessments. The foregoing prohibition shall not prohibit the Grantees from objecting to the amount of any such special assessment which may be Levied against the Premises. This deed shall convey to Grantees an estate in fee simple determinable, and in the event of breach, the possibility of revertex shall vest in the Grantor herein, the Gity of Grand Island, Nebraska. Grantor hezeby covenants with Grantees and with Grantees' heirs and assigns that Grantor is lawfully seised of said Premises; that they are free from enctmabrance, except easements of record and visible easements; that Grantor has good right and lawful avtho=ity to convey the same, subject to the foregoing conditions; and that. Grantor warrants and will defend the title to said Premises against the lawful cl:smg of all persons whomsoever, tin fi:~al eoa~liaxsce with the ~Jrban Renewal Plan and the C~,suntfity Developmcxr~c Plan of the City cif (band Island, ~tebraska, ~ ..